On May 23, 2023, Southern California Gas Company (the “Company”), an indirect subsidiary of Sempra, closed its previously announced public offering and sale of $500,000,000 aggregate principal amount of its 5.200% First Mortgage Bonds, Series ZZ, due 2033 (the “Series ZZ Bonds”) and $500,000,000 aggregate principal amount of its 5.750% First Mortgage Bonds, Series AAA, due 2053 (the “Series AAA Bonds”) with proceeds to the Company (after deducting the underwriting discounts but before deducting the Company’s other offering expenses estimated at approximately $1,800,000) of (i) 99.155% of the aggregate principal amount of the Series ZZ Bonds, and (ii) 98.641% of the aggregate principal amount of the Series AAA Bonds. The sale of the Series ZZ Bonds and Series AAA Bonds was registered under the Company’s Registration Statement on Form
S-3
(File No.
333-270939).
The Series ZZ Bonds were issued pursuant to a Supplemental Indenture, dated as of May 23, 2023 (the “Series ZZ Supplemental Indenture”), which is filed herewith as Exhibit 4.1. The Series ZZ Bonds will mature on June 1, 2033. The Series ZZ Bonds will bear interest at the rate of 5.200% per annum. Interest on the Series ZZ Bonds will accrue from May 23, 2023 and is payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2023. The Series ZZ Bonds will be redeemable prior to maturity, at the Company’s option, at the redemption prices described in the form of Series ZZ Bond, which form is included in Exhibit 4.1 hereto.
The Series AAA Bonds were issued pursuant to a Supplemental Indenture, dated as of May 23, 2023 (the “Series AAA Supplemental Indenture”), which is filed herewith as Exhibit 4.2. The Series AAA Bonds will mature on June 1, 2053. The Series AAA Bonds will bear interest at the rate of 5.750% per annum. Interest on the Series AAA Bonds will accrue from May 23, 2023 and is payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2023. The Series AAA Bonds will be redeemable prior to maturity, at the Company’s option, at the redemption prices described in the form of Series AAA Bond, which form is included in Exhibit 4.2 hereto.
The foregoing descriptions of some of the terms of the Series ZZ Bonds and Series AAA Bonds are not complete and are qualified in their entirety by the form of Series ZZ Bond and the Series ZZ Supplemental Indenture and the form of Series AAA Bond and the Series AAA Supplemental Indenture, which are filed as exhibits herewith and are incorporated herein by reference. Further information regarding the sale of the Series ZZ Bonds and Series AAA Bonds is contained in the Underwriting Agreement, dated May 17, 2023, which was filed as Exhibit 1.1 to the Company’s Current Report on Form
8-K
filed with the U.S. Securities and Exchange Commission on May 18, 2023.
Item 9.01 | Financial Statements and Exhibits. |